Fortress Investment Group turns 20 this year. The investment firm made history in 2007 by going public. FIG was projected to offer stocks at $ 18 per share. At the time of the initial public offering, Fortress Investment Group (FIG) was valued at $ 14 billion, the shares were priced at $ 35 per share. Fortress was the first buyout company to go public on the New York Stock Exchange. FIG was founded in 1998, and at that time was worth over $ 36.1 billion. The founders of FIG are Wes Edens, Randy Nardone, and Peter Briger.Over the 20 years of doing business, Fortress Investment Group has taken several companies public as part of their diversified portfolio.
FIG has as part of their portfolio Aircastle Limited, Alea Group Holdings, Global Signal, Green Tree Services LLC, Springleaf Financial and Prime Retail. Back in 2006, Fortress Investment purchased the largest ski resort in North America, Canadian Ski Resort. Later that same year on November 15, 2006, Fortress Investment Group went on to buy up RailAmerica Inc. The RailAmerica purchase was in the form of stocks at $ 16.35 per share and was completed by February 2007. Two years later, in October 2009 FIG sold RailAmerica by an initial public offering.
In 2010 FIG was recognized as by Institutional Investor as the Credit Focused Fund of the Year and again 2011. In 2012 and in 2014 FIG was recognized again as Discretionary Macro Focused Hedge Fund of the Year and Credit Focused Fund of the Year, by Institutional Investor. By June 30th, 2016 FIG was responsible for managing $ 70.2 billion in assets.December 28th, 2017, Masayoshi Son, founder of SoftBank announced the technology investment firm had acquired Fortress for $ 3.3 billion in cash. Despite the acquisition, FIG will still operate as an independent firm from SoftBank’s headquarters office in New York City.